Monday, November 26, 2012

Euro zone, IMF to seek Greece deal, debt write-off main problem


Euro zone finance ministers and the International Monetary Fund will seek to unfreeze the second bailout package for Greece on Monday, but they first need to agree if some of the official loans to Athens might eventually be forgiven to cut Greek debt.
Euro zone ministers and their deputies have held numerous meetings and conference calls over the last two weeks to decide how Greek debt, seen at almost 190 percent of GDP next year, could be cut to a more sustainable 120 percent in 8-10 years.

Read more: http://www.reuters.com/article/2012/11/26/us-eurogroup-greece-idUSBRE8AP05820121126

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